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20121202
20121210
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's economy. nannette miranda has the story tonight from sacramento. >> governor brown successfully got voters to approve proposition 30, a temporary income tax increase on high earners and a boost to the statewide sales tax to save public schools. but a new forecast calls it a double-edged sword because it will drag the economy slowing growth. >> republicans have been saying that for some time. any time that you have higher taxes, it changes behavior but it also dampens the economic recovery. >> they estimated payroll growth to be between 1-2% in the next two years. it predicts unemployment rate will average 10.5% by the end of the year and then go to 9.7% next year with a jobless rate of 8.4% in 2014. >> i think it's an oversimplification. >> an economist who is school finance consultant. he says it doesn't take into account if they rejected prop 30 six billion in cuts mostly to public education. he thinks californians want to trade short term growth for an investment in kids. >> we would have been looking at shortening the school day further, more kids out the streets. that is exactly what
of southern california economy so those cuts would develop effect there. >>reporter: this afternoon speaker of the house boehner delivered the g.o.p. proposal. which would reduce the national debt by 2.2 trillion dollars including 800 billion in new tax revenue but would leave the bush tax cuts to the top 2% in place. photo op today the president ignored reporter questions about that republican plan but later in a statement the white house rejected it. we believe a deal will be struck before the deadline and it will be the republicans that give ground. >> i think this time around obama has learned from his past mistakes and more importantly he has the advantage that if he does nothing he's in better shape than the republicans are. >>reporter: professor says republican holding the middle class hostage trying to force the president hand. problem is they can't afford to carry out the threat. if the g.o.p. is blamed for raising taxes on everybody because they were trying to protect the rich, be putting themselves in a dark hole. in the newsroom, abc 7 news. >>> let's go over seas to syr
Search Results 0 to 1 of about 2